News
Embassy REIT acquires Embassy TechVillage
Embassy Office Parks REIT announced on December 24 that it has successfully completed the acquisition of Embassy TechVillage (ETV) assets from the Embassy Sponsor, members of the Blackstone group and other selling shareholders for an enterprise value of Rs 97,824 million ($1.3 billion).
Embassy REIT had previously announced this proposed acquisition on November 17, 2020.
The ETV acquisition comprises c.6.1 million square feet of completed area, c.3.1 msf of under-construction area, of which 36 per cent is pre-leased to JP Morgan, and two proposed 518-keys Hilton hotels within the overall ETV campus.
This transaction marks the first large-scale acquisition by a REIT in India and solidifies the REIT’s position in India’s best performing office sub-markets. With this acquisition, Embassy REIT’s leasable area grows 28 per cent to 42.4 msf.
-
News4 weeks ago
Godrej Properties Sells Rs 3k cr+ Homes of Godrej Zenith, Gurugram, within 3 days
-
News4 weeks ago
RBI’s Status Quo on Key Policy Rates to Help Maintain the Real Estate Growth Momentum, Say Industry Stalwarts
-
News2 weeks ago
Noida’s High-Rise Societies Face Multiple Challenges Despite Rapid Urban Growth
-
News3 weeks ago
Olive Announces Dhruv Kalro as Co-Founder
-
News4 weeks ago
Godrej Properties Sells 5000+ Homes of Rs 9.5 cr in Q4FY24, Bookings up 84% YoY
-
News3 weeks ago
Vestian: Domestic Investors Dominate Institutional Investments in Jan-Mar’24
-
News3 weeks ago
India to become the fastest-growing silver economy, housing up to 17% of the world’s elderly population by 2050: CBRE Report
-
News4 weeks ago
HRERA Gurugram Rejects Godrej Properties’ Project Extension Application, Account Frozen For Prolonged Non-compliances